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Sovereign Wealth Funds Briefing - Categorized | Investment

Mubadala, Trafigura win control of Batista port in $996 mln deal

Posted on 16 October 2013

Brazilian businessman Eike Batista ceded control of an iron ore port to Dutch energy firm Trafigura Beheer BV and an Abu Dhabi sovereign wealth fund in a $996 million deal that takes debt off his hands and secures new investment for the port.
The former billionaire’s latest effort to stave off the collapse of his once high-flying Grupo EBX conglomerate follows the sale of other key assets and comes amid talks with creditors of OGX Petróleo e Gas Participações SA. The oil producer missed a $44.5 million bond interest payment this month and, analysts say, risks going bankrupt within weeks………………………………………..Full Article: Source


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